Crude oil prices face downward pressure from Fed rate hikes, yet remain supported by a significant geopolitical risk premium following attacks on Saudi pipelines and regional supply chain vulnerabilities.
Brent fell on profit-taking but remains elevated and StanChart sees a higher floor due to Hormuz and Saudi export route disruptions.
WTI also pulled back but remains supported by the same geopolitical risk premium from Gulf supply disruptions.
Dutch TTF gas remains near multi-year highs, with StanChart expecting continuing support from low inventories and competition between heating demand and storage injections.
Uniper is mentioned as aggressively injecting gas into storage under Germany's market incentives, highlighting its role in the European gas supply response.
Standard Chartered's analysts are cited for oil and gas forecasts, but the article reports no fundamental news about the bank's stock itself.
Brent and WTI crude prices retreated by 2.88% and 3.33% respectively as the Federal Reserve raised interest rates by 25 basis points. Despite the pullback, analysts at Standard Chartered maintain a bullish outlook, citing persistent geopolitical threats to Saudi export infrastructure and the Strait of Hormuz.
Prices are supported by a geopolitical risk premium stemming from the US-Iran stalemate, attacks on Saudi oil infrastructure, and threats to tanker transit through the Red Sea.